Loomis — Interim / Quarterly Report 2009

Jul 31, 2009

Interim Report January–June 2009

Cover image: One of Loomis' cash transport vehicles in front of Casa Milá in Barcelona.

Interim Report for January–June 2009

• Revenue increased during the period to MSEK 6,205 (5,316), of which organic growth comprised –2 percent (3).
• Operating income (EBITA)1) amounted to MSEK 368 (303), of which exchange rate effects comprised MSEK 67, and the operating margin was 5.9 percent (5.7).
• Income before taxes amounted to MSEK 297 (220) and net income after taxes was MSEK 208 (225).2)
• Earnings per share were SEK 2.85 (3.08).2)
• Cash flow from operating activities amounted to MSEK 288 (–150), which is equivalent to 78 percent of operating income (EBITA).
• Renewed authorization to conduct cash transport for Loomis' Swedish subsidiary.
• Two acquisitions were undertaken during the period, one in Finland and one in Slovakia.

1) Earnings Before Interest, Taxes and Amortization of acquisition-related intangible fixed assets.

2) Income after taxes in the previous year was positively affected by the utilization of previously unrecognized loss carry forwards in the UK. The final tax rate for 2008 was 26 percent, which would have resulted in income after taxes of MSEK 163 and profit per share of SEK 2.23 for the first half-year of 2008.

Comments by the President and CEO

During the first half-year, revenues within several of our most important markets were negatively impacted by the global downturn in the economy. The trend we witnessed during the first three months of the year has continued during the second quarter which resulted in organic growth of –2 percent. However, approximately half of the negative growth can be explained by lower fuel surcharges due to lower diesel prices. Operating income for the Group amounted to MSEK 368, which is an improvement compared to the previous year of MSEK 65, primarily due to changes in exchange rates.

The Group's operating margin improved to 5.9 percent compared with the corresponding period in the previous year when the margin was 5.7 percent. The continued, on-going work within the Group as regards cost reductions, restructuring and a focus on efficiency improvements in the branches has comprised an important aspect of this work. Loomis' aim remains to, by at latest 2010, achieve an operating margin of at least 8 percent.

Of Loomis' two segments, the USA segment experienced the most favorable development as regards the margin with an increase to 5.3 from 4.4 percent, compared with the first half of 2008, while the margin in Europe increased to 7.9 percent (7.6).

In the European operations, revenue increased to MSEK 3,835 (3,535) during the first half of the year. Revenues, however, have been negatively impacted by the loss of a number of larger contracts in the previous year and by a weakened market due to the global economic recession. Despite these negative factors, the margin has improved compared with the previous year, this due to a continued focus on efficiency and cost saving measures.

In the operations in the USA, organic growth was –1 percent compared with the first half of 2008, while revenue increased to MSEK 2,370 (1,781). Revenue was impacted negatively, however, by lower fuel surcharges and a weakened market.

In the USA the process of adapting costs in relation to the diminished revenue volumes and to complete the reorganization initiated at the end of the first quarter is proceeding. The work to reduce indirect costs and improve operations and profitability in loss-making branch offices is also proceeding.

On July 1, the Group CFO Jarl Dahlfors took up his position as Country President for the operations in the USA.

Lars Blecko President and CEO

Loomis offers safe and effective solutions for the distribution, handling and recycling of cash for banks, retailers and other commercial companies via an international network of more than 370 branch offices in 12 European countries and in the USA. The Group has approximately 20,000 employees. Loomis is a mid-cap listed company on the NASDAQ OMX Stockholm.

The Group in brief

The Group in brief (MSEK)	Apr–Jun 2009	Apr–Jun 2008	Change (%)	Jan–Jun 2009	Jan–Jun 2008	Change (%)	Full year 2008
Revenue	3,018	2,669	13	6,205	5,316	17	11,258
Organic growth, %	–4	4		–2	3		3
Operating income (EBITA)1)	183	163	12	368	303	21	748
Operating margin, %	6.1	6.1		5.9	5.7		6.6
Earnings per share before dilution, SEK2) 3)	1.42	2.15		2.85	3.08		5.80
Cash flow from operating activities as % of operating income (EBITA)	106	82		78	n/a		59

1) Earnings Before Interest, Taxes and Amortization of acquisition-related intangible fixed assets.

2) During 2008, the share structure of Loomis AB was changed as the result of a reverse split (1:5). Earnings per share have been adjusted to reflect this change.

3) Earnings per share were positively affected in the previous year by the utilization of previously unrecognized loss carry forwards in the UK. The final tax rate for 2008 was 26 percent, which would have resulted in income after taxes in the second quarter of 2008 of MSEK 88 and profit per share of SEK 1.21. For the first half of 2008, income after taxes would have been MSEK 163 and profit per share, SEK 2.23.

Revenue and Operating income APRIL–JUNE 2009

Revenue increased by 13 percent to MSEK 3,018 (2,669), while organic growth in revenue (adjusted for exchange rate effects, acquisitions and divestitures) amounted to –4 percent, primarily as a result of the weaker economic climate which, among other things, has lead to the consolidation of bank offices and lower volumes in general. In addition, lower fuel prices have resulted in a decrease in the levels of fuel surcharges which Loomis passes on to its customers. In addition, the loss of contracts in the previous year has also had an impact on comparative figures. However, general price increases have been made which, to a certain extent, have compensated for the negative effects. There are several markets which also are largely unaffected by the current economic climate.

Operating income (EBITA) increased to MSEK 183 (163), which includes exchange rate effects of MSEK 30. The operating margin amounted to 6.1 percent (6.1). The operating margin has been maintained, in spite of the negative organic growth, as a result of the continued, ongoing work with cost reductions and efficiency improvements at underachieving branch offices.

Operating income (EBIT) increased to MSEK 179 (159). Financial income and expenses amounted to MSEK –31, to be compared with MSEK –40 during the second quarter of 2008. This change is primarily a result of a lower average net debt.

Income before taxes amounted to MSEK 148 (119), whilst net income after tax was MSEK 103 (157). The previous year's net income after tax was impacted by a positive tax item which was the result of the utilization of a previously unrecognized loss carry-forward in the UK. The tax rate for the current period is –30 percent (32).

JANUARY–JUNE 2009

Revenue increased during the first half of the year by 17 percent to MSEK 6,205 (5,316). Organic growth in revenue (adjusted for exchange rate effects, acquisitions and divestitures) amounted to –2 percent. The negative impact of the declining economic climate, loss of contracts and lower levels of fuel surcharges have been partially compensated by general price increases.

Operating income (EBITA) increased to MSEK 368 (303). This increase includes exchange rate effects of MSEK 67. The previously referred to focus on costs and efficiency improvements resulted in an improved operating margin which increased to 5.9 percent (5.7).

Operating income (EBIT) increased to MSEK 360 (296).

Financial income and expenses amounted to MSEK –62 (–76), a decline which is the result of lower net debt.

Income before taxes amounted to MSEK 297 (220) and net income after tax amounted to MSEK 208 (225). The tax rate for the period was –30 percent (2). The tax rate for the first half-year of 2008 was impacted by the utilization of loss carry-forwards in the UK.

Cash flow

APRIL–JUNE 2009

Cash flow from operating activities of MSEK 193 (133) was equivalent to 106 percent (82) of operating income (EBITA). A positive change in other operating capital employed has contributed to an improved cash flow. The primary explanation for the change in other operating capital employed is lower prepaid expenses. In addition, investments have been postponed to the second half of the year to a greater degree than in the past, which has also had a positive impact on the cash flow. These measures were undertaken with the aim of achieving an improved balance between cash flow and seasonal variations in revenue.

Cash flow from operations amounted to MSEK 306 (–102) and from investing activities, MSEK –218 (–263). The cash flow from financing activities amounted to MSEK –257 (374) and cash flow for the period was MSEK –169 (9). Cash flow for the period includes a dividend to shareholders, MSEK 164, and has also been impacted by the decreased utilization of loan facilities.

The cash flow effect from items affecting comparability and acquisition-related restructuring costs amounted to MSEK –1 (–410).

Net investments in fixed assets for the period amounted to MSEK 209 (222), which can be compared with the depreciation of fixed assets of MSEK 196 (162). Of total investments for the period, investments in vehicles and security equipment amounted to MSEK 94 (124), which comprise the two major categories of recurring maintenance investments.

JANUARY–JUNE 2009

Cash flow from operating activities of MSEK 288 (–150) amounted to 78 percent of operating income (EBITA). A lower level of accounts receivable has contributed to an improved cash flow. The number of customer credit days per June 30 continued to be stable at approximately 40 days. The development of other operating capital employed can primarily be attributed to a lower level of accounts payable per June 2009 as compared with December 2008. The change in other operating capital employed in January–June 2008 is primarily an effect of the utilization of reserves related to the sale of LCM in November 2007. Investments have, to a certain extent, been postponed to the second half-year in order to achieve an improved balance between revenue and cash flow.

Cash flow from operations amounted to MSEK 490 (–305). Cash flow from investing activities amounted to MSEK –386 (–382) and from financing activities, MSEK –447 (669). Cash flow for the period amounted to MSEK –343 (–18). The decrease in cash is a result of the dividend to shareholders and loan repayments.

The cash flow effect from items affecting comparability and acquisition-related restructuring costs amounted to MSEK –3 (–417).

Net investments in fixed assets for the period amounted to MSEK 377 (341), which can be compared with the depreciation of fixed assets, MSEK 393 (319). Of total net investments, investments in vehicles and security equipment amounted to MSEK 168 (196).

Capital employed

Capital employed amounted to MSEK 5,439 (5,351 per December 31, 2008). The return on capital employed amounted to 15 percent (14 per December 31, 2008).

Shareholders' equity and financing

Shareholders' equity amounted to MSEK 2,992 (2,976 per December 31, 2008). The return on equity was 14 percent (14 per December 31, 2008). The equity ratio was 34 percent (33 per December 31, 2008). During the second quarter, MSEK 164 was distributed as dividends to shareholders. Net debt amounted to MSEK 2,447 (2,375 per December 31, 2008).

Significant events during the period

In June 2009 Loomis' Swedish subsidiary received renewed authorization to conduct cash transport. During the last two years Loomis, in consultation with the appropriate authorities, has actively worked to improve training and routines and the deficiencies previously identified have been addressed.

In May 2009, the assets and customer contracts in the Slovakian cash handling company, Fenix, were acquired. Fenix was the country's third largest operator with annual revenue of approximately TEUR 500.

Assets and customer contracts from the Finnish cash handling provider, Ponsec Finland Oy, were acquired in May 2009. The acquired operations were consolidated by Loomis from June 1, 2009 and were integrated with Loomis' Finnish operations.

In April 2009, Loomis entered into an exclusive cooperation agreement with Tidel Engineering, L.P. which is a world-leader within cash management systems.

At the annual general meeting on April 21, 2009, Marie Ehrling was elected as a new member of the Board of Directors.

Events after the end of the reporting period

Loomis' CFO Jarl Dahlfors took up the position as Country President in the USA on July 1, 2009. The person who was scheduled to succeed Jarl Dahlfors as CFO has chosen to take up a position outside of Loomis, and therefore Jarl Dahlfors will continue as CFO in parallel with the position as Country President in the USA until a new CFO takes up the position.

Other significant events

For critical estimates and assessments and contingent liabilities, refer to pages 48 and 73 in the annual report for 2008. As no material changes have taken place compared with the information presented in the 2008 annual report, no further comments regarding such matters have been presented in this interim report.

Average number of employees

The average number of employees during 2008 was 19,361. No significant changes have taken place during the first half of 2009. The trend from 2008, with a decreasing level of employee turnover, has continued during 2009, although at a slightly lower rate

Market and Position1) MARKET

Loomis provides cash handling services in 12 European countries and in the USA. Loomis' available market in these countries has a current estimated value of approximately SEK 45 billion, of which Loomis' market share is 26 percent. The potential market for outsourced cash handling services in these countries is estimated to amount to SEK 60 billion – an increase of almost 30 percent compared with the current market.

There is substantial potential both within the bank and retail company segments. Within the bank segment, the largest potential lies within the USA and primarily relates to cash management services, as the American banks still mainly carry out these services themselves, while transport services have largely been outsourced. The retail company segment has a great deal of potential both within the areas of transport and cash management.

In addition to the possibilities of increased outsourcing, the flow of cash has increased significantly in those markets in which Loomis operates. In the European markets, cash in circulation has increased steadily since the Euro was introduced in 2002. Loomis' strategy includes an expansion of services in Eastern Europe in line with these countries' transition to the Euro, which will provide further growth possibilities on the European markets. In the USA, which has one of the highest levels of GDP in the world, the flow of cash in society has increased with a yearly growth rate of 4.9 percent between 2000 and 2007.

TRENDS

Demand for cash handling services in Western Europe and the USA, i.e. where Loomis conducts the majority of its operations, is stable. In the short-term, fluctuations in the economic climate can have a certain degree of impact, however, the long-term global trend towards an increased level of outsourcing remains, which favors Loomis' business.

The market for cash in transit, cash management services and technical cash management solutions is continually developing and is growing steadily. New, more efficient and more qualified solutions and services are being developed in line with new requirements and new demands from the market. New technology may change conditions on the market and, consequently, it is important to continually assess the need to change and adapt the range of services offered.

New service offerings, in turn, motivate retailers, banks and central banks to increase the extent to which their cash handling requirements are outsourced.

However, the outsourcing of cash handling has achieved varying levels of penetration in different countries. This implies that substantial growth potential still remains in countries that are relatively underdeveloped in this respect. To drive the trend towards increased outsourcing, Loomis and the rest of the industry must be able to successfully demonstrate the customer benefit of outsourced cash handling in these markets.

Even in markets in which professional providers have long taken care of significant aspects of cash handling, there are still considerable growth opportunities. Offering comprehensive solutions for complete cash logistics provides good prospects for the industry to take greater responsibility in society's handling of the overall flow of cash.

COMPETITION

The global market for cash handling services is fragmented and the six major operators' share of the market totals approximately 50 percent, while hundreds of smaller local operators account for the remaining portion of the market. Within each country there are generally only a few larger nation-wide operators. Multi-national companies such as Loomis and larger regional operators offer a significant range of integrated security and cash handling services, while smaller local operators often only offer basic transport services. The industry is, therefore, still open for further consolidation.

SERVICES AND POSITION

Loomis' cash handling services are divided into three areas: Cash in Transit, Cash Management Services and Technical Services. Cash in Transit remains the largest source of revenue, even though revenue from Cash Management is growing faster. In Europe, Cash in Transit represented 66 percent of revenue, while Cash Management Services constituted 31 percent and Technical Services represented 3 percent, during 2008. In the USA Cash in Transit represented 82 percent of revenue, while Cash Management Services and Technical Services constituted 17 and 1 percent, respectively, during 2008.

Loomis' customers are primarily comprised of banks and retailers. Loomis' ambition is to be the number one or number two company in each geographical market in which it operates.

Segments

EuropE

Revenue and Operating income APRIL–JUNE 2009

Revenue amounted to MSEK 1,902 (1,773), which is equivalent to an increase of 7 percent. Organic growth (adjusted for exchange rate effects, acquisitions and divestitures) amounted to –4 percent. The negative organic growth was primarily a result of the downturn in the economy which, among other things, resulted in customers in certain markets reducing the number of stops, lower consumption, and thereby a diminishment in cash volumes, and an increase in the number of bankruptcies. Losses of contracts during the second quarter in the previous year have also had an impact on the volumes. Several markets, however, remain largely unaffected by the state of the economy.

Operating income (EBITA) amounted to MSEK 154 (139). The operating margin for the period was 8.1 percent, an improvement of 0.3 percentage points compared with the previous year. The efficiency and cost-saving measures which have been initiated in previous periods continue and, in those countries which have most clearly shown signs of the effects of the downturn in the economy, these measures have been intensified. In summary, this has resulted in a higher margin, despite the negative effects of diminished revenue.

JANUARY–JUNE 2009

Revenue in Europe during the first half of the year amounted to MSEK 3,835 (3,535), which is equivalent to an increase of 8 percent. Organic growth (adjusted for exchange rate effects, acquisitions and divestitures) amounted to –3 percent. The negative effects of the downturn in the economy and the previous year's loss of contracts were partly compensated for by increases in prices.

Operating income (EBITA) increased by MSEK 32 to MSEK 302 (270), which resulted in an operating margin of 7.9 percent (7.6). In line with the developments in the second quarter, the margins in the first half of the year have also improved as a result of efficiency and cost-saving measures.

Loomis Europe (MSEK)	Apr–Jun 2009	Apr–Jun 2008	Change (%)	Jan–Jun 2009	Jan–Jun 2008	Change (%)	Full year 2008
Revenue	1,902	1,773	7	3,835	3,535	8	7,320
Organic growth, %	–4	3		–3	2		2
Operating income (EBITA)1)	154	139	11	302	270	12	644
Operating margin, %	8.1	7.8		7.9	7.6		8.8

1) Earnings Before Interest, Taxes and Amortization of acquisition-related intangible fixed assets.

USA

Revenue and Operating income APRIL–JUNE 2009

Compared with the same period in the previous year, revenue in the USA increased by 24 percent to MSEK 1,115 (896) during the period April–June. The weaker SEK had a positive effect on revenue calculated in SEK. Organic growth, adjusted for exchange rate changes and acquisitions, amounted to –4 percent, mainly due to the downturn in the economy which has resulted in fewer stops, an increased number of bankruptcies and an increased pressure on prices. Decreasing fuel costs have also had an impact on revenue as this has entailed lower levels of fuel surcharges passed on to customers, with the aim of compensating for changes in fuel costs via pricing. In addition, the USA segment was also impacted by the implementation of new technology by customers at a faster pace than anticipated. The new technology enables the electronic scanning of checks directly upon deposit by customers in automatic teller machines, which decreases the need for frequent collection and emptying.

Operating income (EBITA) increased by 23 percent to MSEK 58 (48). The operating margin for the period was 5.2 percent (5.3), a decrease compared with the previous year of 0.1 percentage points. During the second quarter, the USA operations did not succeed in adapting costs sufficiently quickly and weakened revenues have, consequently, impacted the operating margin. The work to reduce costs and increase efficiency is continuing, however, and will be intensified.

JANUARY–JUNE 2009

Revenue in the USA during the first half of the year amounted to MSEK 2,370 (1,781), which is equivalent to an increase of 33 percent. Organic growth (adjusted for exchange rate effects, acquisitions and divestitures) amounted to –1 percent. Price increases have contributed to diminishing the negative effects of the downturn in the economy, the lower levels of fuel surcharges and the effects of the new check scanning technology.

Operating income (EBITA) increased by 59 percent to MSEK 125 (79), while the operating margin for the period was 5.3 percent (4.4). Compared with the previous year, the operating margin, thus, improved by 0.9 percentage points. The main reason behind the improvements is the effect of the change process which was initiated during the second quarter of 2008, aiming at increasing efficiency and decreasing indirect costs.

On March 31, 2009, the USA operations were restructured to a flatter organization by eliminating the regional structure and at the same time creating 12 districts, through combining the organizational units which were previously reported as "Areas". In conjunction with the restructuring, Jarl Dahlfors, the Group CFO, was appointed to serve as the new Country President.

Another contributing factor to the improvement in income, is the continued decrease in employee turnover.

Loomis USA (MSEK)	Apr–Jun 2009	Apr–Jun 2008	Change (%)	Jan–Jun 2009	Jan–Jun 2008	Change (%)	Full year 2008
Revenue	1,115	896	24	2,370	1,781	33	3,938
Organic growth, %	–4	7		–1	6		6
Operating income (EBITA)1)	58	48	23	125	79	59	197
Operating margin, %	5.2	5.3		5.3	4.4		5.0

1) Earnings Before Interest, Taxes and Amortization of acquisition-related intangible fixed assets.

Parent Company

The Parent Company of the Group does not engage in operating activities but is comprised of the Group management and central functions.

The number of employees at the head office was 14 during the first half-year of 2009.

The Parent Company's revenue refers, primarily, to franchise fees and other revenues from subsidiaries. The change in income is primarily related to improved financial income and to the fact that the previous year was negatively impacted by costs attributable to the divestment of the LCM operations.

The Parent Company's fixed assets are comprised primarily of shares in subsidiaries and loan receivables with subsidiaries. Liabilities are primarily comprised of interest-bearing liabilities.

During the first quarter of 2009, a total of 77 members of senior management invested in the Parent Company via the purchase of warrants at fair market value (SEK 8.50). The warrants entitle the right to subscription of 2,555,000 new Class B shares during the period March 1 –May 31, 2013 at an issue price of SEK 72.50. The investments in warrants resulted in a strengthening of equity of MSEK 22.

During the second quarter, MSEK 164 was distributed to shareholders, equivalent to a dividend of SEK 2.25 per share.

Summary Statement of Income (MSEK)	Jan–Jun 2009	Jan–Jun 2008	Full year 2008
Gross income	131	121	179
Operating income (EBIT)	87	–287	–294
Income after financial items	150	–325	–122
Net income for the period	111	–327	–153

Summary Balance Sheet (MSEK)	Jun 30, 2009	Jun 30, 2008	Dec 31, 2008
Fixed assets	7,063	4,662	7,042
Current assets	678	1,175	496
Total assets	7,741	5,838	7,538
Shareholders' equity	4,379	3,180	4,420
Liabilities	3,362	2,657	3,117
Total shareholders' equity and liabilities	7,741	5,838	7,538

Risks and Uncertainties

OPERATIONAL RISKS

Operational risks are risks associated with the day-to-day operations and the services offered by the Company to its customers. These risks can result in negative consequences when services performed do not meet the established requirements and result in loss of property, damage to property or personal injury.

Loomis' strategy for operational risk management is based on two fundamental principles:

• No loss of life.

• Balance between profitability and risk of theft and robbery.

Although the risk of robbery is unavoidable in cash handling, Loomis continually endeavors to minimize this risk. The most vulnerable situations are at the roadside, in the vehicles and during counting.

Loomis' operations are insured and the maximum amount of potential loss in conjunction with each theft or robbery incident is limited to the deductible amount as stipulated in the insurance cover.

The Parent Company, Loomis AB, is not deemed to have any material operational risks, as the company does not engage in operations, other than the conventional control of subsidiaries and the management of certain Group matters.

The main risks deemed to apply to the Parent Company are related to fluctuations in exchange rates, particularly as regards USD and EUR, increased interest rates and the risk of possible write-down requirements concerning investments.

UNCERTAINTIES

Specific uncertainties for 2009 relate to the effects of the on-going efficiency and cost-saving measures in the Group, as well as related to the current economic recession.

The economic trend during the first half of the year has had an effect on certain countries and geographic markets and it cannot be ruled out that revenue and income for 2009 may be further impacted.

An economic slowdown has both positive and negative effects on the market for cash handling services. Positive effects include an increase in the proportion of cash purchases compared with credit card purchases and lower rates of employee turnover. Negative effects include the increased risk of robbery, reduced consumption and an increased risk of bad debt losses. Among the potential negative effects, an increased risk of robbery and reduced consumption are the most notable.

SEASONABLE VARIATIONS

The Company's earnings fluctuate across the different seasons, which should be taken into consideration when making assessments on the basis of interim financial information. The primary reason for these seasonal variations is that the need for cash handling services increases during the vacation period, July–August, and during the Christmas shopping period, i.e. in November–December.

Accounting principles

The Group's financial reports are prepared in accordance with International Financial Reporting Standards (IAS/ IFRS, as adopted by the European Union), issued by the International Accounting Standards Board and statements issued by the International Financial Reporting Interpretations Committee (IFRIC).

This interim report has been prepared in accordance with IAS 34 Interim Financial Reporting. The main accounting principles according to IFRS, which represent the accounting standards for the preparation of this interim report, can be found in Note 2 on pages 40–47 of the 2008 Annual Report.

From 2008 onwards, the Group's segments have been reported in accordance with IFRS 8, instead of in accordance with IAS 14. The assessment has been made that, under the new principle, the segments will continue to be comprised of Europe and the USA.

The amended IAS 1 Presentation of Financial Statements is applied from January 1, 2009. The change has affected the Company's accounting retroactively from December 31, 2007. The change entails, among other things, that revenues and costs which were previously reported directly in shareholders' equity, are now reported in a separate report called "Statement of comprehensive income".

The Parent Company's financial reports have been prepared in accordance with the Swedish Annual Accounts Act and Recommendation RFR 2 Accounting for Legal Entities. The main accounting principles for the Parent Company can be found in Note 37 on page 80 of the 2008 Annual Report.

Outlook for 2009

The Company does not provide forecast information for 2009.

The undersigned hereby certify that the interim financial report provides a true and fair review of the Parent Company's and the Group's operations, financial position and income, and describes significant risks and uncertainties to which the Parent Company and those companies included in the Group are exposed.

Stockholm, July 31, 2009

Alf Göransson Chairman of the Board Ulrik Svensson Board Member

Marie Ehrling Board Member

Jan Svensson Board Member Jacob Palmstierna Board Member

Lars Blecko President and CEO

(Translation of the Swedish original)

Review report

We have reviewed this report for the period January 1, 2009 to June 30, 2009 for Loomis AB (publ.). The Board of Directors and the President and CEO are responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review.

We conducted our review in accordance with the Swedish Standard on Review Engagements SÖG 2410, Review of Interim Report Performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsible for financial and

accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing in Sweden, RS, and other generally accepted auditing standards in Sweden. The procedures performed in a review do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act, regarding the Group, and with the Swedish Annual Accounts Act, regarding the Parent Company.

Stockholm, July 31, 2009

PricewaterhouseCoopers AB

Anders Lundin Authorized Public Accountant Auditor-in-charge

Patrik Adolfson Authorized Public Accountant

Statement of income (MSEK)	Apr–Jun 2009	Apr–Jun 2008	Change (%)	Jan–Jun 2009	Jan–Jun 2008	Change (%)	Full year 2008	Full year 2007
Revenue, continuing operations	2,994	2,521	19	6,154	5,022	23	10,899	11,107
Revenue, acquired business	23	148		51	294		360	290
Total revenue	3,018	2,669	13	6,205	5,316	17	11,258	11,397
Organic growth, %	–4	4		–2	3		3	1
Production expenses	–2,375	–2,090		–4,882	–4,177		–8,800	–8,948
Gross income	643	579	11	1,324	1,139	16	2,459	2,449
Selling and administrative expenses	–460	–416		–956	–836		–1,711	–2,190
Operating income before
amortization (EBITA)1)	183	163	12	368	303	21	748	259
Operating margin before amortization, %	6.1	6.1		5.9	5.7		6.6	2.3
Amortization of acquisition related intangible assets	–4	–3		–8	–8		–15	–18
Acquisition-related restructur ing costs	–	–		–	–		–	–37
Items affecting comparability2)	–	–		–	–		–	–640
Operating income (EBIT)	179	159		360	296		733	–437
Net financial items	–31	–40		–62	–76		–164	–128
Income before taxes	148	119		297	220		569	–565
Income tax	–44	38		–89	5		–145	–316
Net income for the period 3)	103	157		208	225		424	–881
Net margin, %	3.4	5.9		3.4	4.2		3.8	–7.7

1) Earnings Before Interest, Taxes and Amortization of acquisition-related intangible fixed assets. The item also excludes acquisition-related restructuring costs and other items affecting comparability.

2) For further information on items affecting comparability, see the annual report for 2007.

3) Net income for the period is attributable in its entirety to the Parent Company's shareholders.

Per share data (SEK)1 )	Apr–Jun 2009	Apr–Jun 2008	Jan–Jun 2009	Jan–Jun 2008	Full year 2008	Full year 2007
Earnings per share before dilution2)	1.42	2.15	2.85	3.08	5.80	–12.06
Earnings per share after dilution3)	1.42	n/a	2.85	n/a	n/a	n/a
Earnings per share, fully diluted 4)	1.37	n/a	2.75	n/a	n/a	n/a
Dividend	2.25	–	2.25	3.35	3.35	3.42
Number of outstanding shares (millions)	73.0	73.0	73.0	73.0	73.0	73.0
Average number of outstanding
shares (millions)	73.0	73.0	73.0	73.0	73.0	73.0

1) During 2008, the share structure of Loomis AB was changed as a result of a reverse split (1:5). Earnings per share have been adjusted to reflect this change.

2) Earnings per share were positively affected in the previous year by the utilization of previously unrecognized loss carry forwards in the UK. The final tax rate for 2008 was 26 percent, which would have resulted in income after taxes in the second quarter of 2008 of MSEK 88 and profit per share of SEK 1.21. For the first half of 2008, income after taxes would have been MSEK 163 and profit per share, SEK 2.23.

3) The average price per share during the second quarter of 2009 amounted to SEK 71.68 and for the first half of 2009 amounted to SEK 66.83. As the subscription price for warrants is SEK 72.50, there is no dilution effect.

4) Earnings per share, fully diluted, show the earnings per share as if all outstanding warrants had been converted into shares. At a full dilution, the number of outstanding shares would amount to 75.6 millions. The average price per share during the first quarter of 2009 and the first half of 2009 was below the subscription price and, therefore, there is no actual dilution.

Statement of comprehensive income (MSEK)	Jan–Jun 2009	Jan–Jun 2008	Full year 2008	Full year 2007
Net income for the period	208	225	424	–881
Actuarial gains and losses after tax	–94	–70	44	34
Translation differences (exchange rate differences)	44	–58	348	–23
Cash flow hedges after tax	0	–	–	–
Other comprehensive income for the period, net after tax	–50	–129	392	11
Total comprehensive income for the period1)	158	96	816	–870

1) The comprehensive income for the period is attributable in its entirety to the Parent Company's shareholders.

Balance sheet (MSEK)	Jun 30, 2009	Jun 30, 2008	Dec 31, 2008	Dec 31, 2007
ASSETS
Fixed assets
Goodwill	2,959	2,416	2,965	2,533
Acquisition-related intangible assets	77	67	79	75
Other intangible assets	47	44	49	40
Tangible fixed assets	2,995	2,501	2,967	2,519
Non-interest-bearing financial fixed assets	371	339	319	261
Interest-bearing financial fixed assets	83	152	60	152
Total fixed assets	6,532	5,518	6,439	5,580
Current assets
Non-interest-bearing current assets	2,030	2,007	1,851	1,879
Interest-bearing financial current assets	11	–	355	698
Liquid funds1)	305	177	268	203
Total current assets	2,346	2,183	2,474	2,780
TOTAL ASSETS	8,878	7,701	8,913	8,360
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity2)	2,992	1,357	2,976	1,505
Equity ratio, %	34	18	33	18
Long-term liabilities
Interest-bearing long-term liabilities	1,563	79	72	113
Non-interest-bearing provisions	864	770	808	726
Total long-term liabilities	2,427	849	880	839
Current liabilities
Income tax liabilities	162	134	209	129
Non-interest-bearing current liabilities	2,014	1,779	1,860	2,596
Interest-bearing current liabilities	1,283	3,583	2,987	3,291
Total current liabilities	3,459	5,496	5,057	6,016
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES	8,878	7,701	8,913	8,360

1) Liquid funds include cash pools as of December 2008. Cash pools previously formed a portion of internal financing from Securitas and were therefore netted against other internal financing.

2) Shareholders' equity is entirely attributable to the Parent Company's shareholders.

Intangible		Jun 30, 2009		Jun 30, 2008				Dec 31, 2008
assets	Goodwill	Acquisi tion related	Other	Goodwill	Acquisi tion related	Other	Goodwill	Acquisi tion related	Other
Opening balance	2,965	79	49	2,533	75	40	2,533	75	40
Acquisitions/ investments	–	7	9	–	–	11	–	8	25
Amortization/ impairment	–	–8	–10	–	–8	–7	–	–15	–17
Divestitures	–	–	–0	–	–	–	–	–	–
Translation difference	–6	–0	–0	–117	–1	0	432	11	2
Reclassification	–	–	–1	–	0	–0	–	–	–2
Closing balance	2,959	77	47	2,416	67	44	2,965	79	49

Statement of cash flows (MSEK)	Apr–Jun 2009	Apr–Jun 2008	Jan–Jun 2009	Jan–Jun 2008	Full year 2008	Full year 2007
Income before taxes	148	119	297	220	569	–565
Items not affecting cash flow, items affecting comparability and acquisition-related restructuring costs	230	–204	461	–14	396	607
Financial items received/paid	–15	–42	–53	–78	–168	–125
Income tax paid	–81	–6	–120	–2	–6	–207
Change in accounts receivable	–0	–33	15	–110	79	–52
Change in other operating capital employed	24	64	–111	–321	–231	168
Cash flow from operations	306	–102	490	–305	640	–174
Cash flow from investing activities	–218	–263	–386	–382	–879	–761
Cash flow from financing activities	–257	374	–447	669	641	1 020
Cash flow for the period	–169	9	–343	–18	402	85
Liquid funds at beginning of the period	465	166	623	203	203	124
Translation differences in liquid funds	10	2	25	–9	19	–6
Liquid funds at end of period1)	305	177	305	177	623	203

1) Included in liquid funds in December 2008 and March 2009 were interest-bearing financial current assets with maturity dates within 90 days.

Statement of cash flows (MSEK) Additional information	Apr–Jun 2009	Apr–Jun 2008	Jan–Jun 2009	Jan–Jun 2008	Full year 2008	Full year 2007
Operating income before amortization (EBITA)1)	183	163	368	303	748	259
Depreciation	196	162	393	319	675	672
Change in accounts receivable	–0	–33	15	–110	79	–52
Change in other operating capital employed	24	64	–111	–321	–231	168
Cash flow from operating activities before investments	402	355	665	191	1 271	1 046
Investments in fixed assets, net	–209	–222	–377	–341	–829	–737
Cash flow from operating activities	193	133	288	–150	442	309
Cash flow from operating activities as a percentage of operating income before amortization (EBITA)	106	82	78	n/a	59	120
Financial items received/paid	–15	–42	–53	–78	–168	–125
Income tax paid	–81	–6	–120	–2	–6	–207
Free cash flow	98	85	116	–230	268	–22
Cash flow effect of items affecting comparability and acquisition-related restructuring costs	–1	–410	–3	–417	–457	–888
Sale of fixed assets (LCM)	–	–	–	–	–	257
Divestiture of operations	–	–	–	–	1	–
Acquisition of operations	–9	–41	–9	–41	–52	–281
Dividend paid	–164	–	–164	–245	–245	–250
Group contributions paid	–	–	–	–182	–182	–
Group contributions received	–	–	–	–	–	9
Shareholders' contribution received	–	–	–	–	900	–
Repayments of leasing liabilities	–12	–12	–20	–34	–43	–27
Change in interest-bearing net debt excluding liquid funds	–80	386	–263	1 130	210	1 289
Cash flow for the period	–169	9	–343	–18	402	85

Change in shareholders' equity (MSEK)	Jan–Jun 2009	Jan–Jun 2008	Full year 2008	Full year 2007
Opening shareholders' equity	2,976	1,505	1,505	2,755
Actuarial gains and losses after tax	–94	–70	44	34
Translation differences	44	–58	348	–23
Cash flow hedges after tax	0	–	–	–
Total income/expenses reported directly in shareholders' equity	–50	–129	392	11
Net income for the period	208	225	424	–881
Comprehensive income for the period	158	96	816	–870
Shareholders' contribution received	–	–	900	–
Group contributions paid, net after tax	–	–	–	–131
Dividend paid to Parent Company's shareholders	–164	–245	–245	–250
Issue of warrants	22	–	–	–
Closing shareholders' equity	2,992	1,357	2,976	1,505

1) Earnings Before Interest, Taxes and Amortization of acquisition-related intangible fixed assets. The item also excludes acquisition-related restructuring costs and other items affecting comparability.

Segment overview (MSEK)	Apr–Jun 2009	Apr–Jun 2008	Jan–Jun 2009	Jan–Jun 2008	Full year 2008	Full year 2007
Europe
Revenue	1,902	1,773	3,835	3,535	7,320	7,665
Organic growth, %	–4	3	–3	2	2	–1
Operating income before amortization (EBITA) 1)	154	139	302	270	644	462
Operating income before amortization, %	8.1	7.8	7.9	7.6	8.8	6.0
USA
Revenue	1,115	896	2,370	1,781	3,938	3,732
Organic growth, %	–4	7	–1	6	6	3
Operating income before amortization (EBITA)1)	58	48	125	79	197	217
Operating margin before amortization, %	5.2	5.3	5.3	4.4	5.0	5.8
Other2)
Revenue	–	–	–	–	–	–
Operating income before amortization (EBITA) 1)	–30	–24	–59	–46	–93	–420
Group, total
Revenue	3,018	2,669	6,205	5,316	11,258	11,397
Organic growth, %	–4	4	–2	3	3	1
Operating income before amortization (EBITA)1)	183	163	368	303	748	259
Operating margin before amortization, %	6.1	6.1	5.9	5.7	6.6	2.3

Segment overview – By quarter (MSEK)	Apr– Jun 2009	Jan– Mar 2009	Oct– Dec 2008	Jul– Sept 2008	Apr– Jun 2008	Jan– Mar 2008	Oct– Dec 2007	Jul– Sept 2007	Apr– Jun 2007
Europe
Revenue	1,902	1,932	1,931	1,855	1,773	1,761	1,936	2,025	1,852
Operating income before amortization (EBITA) 1)	154	147	199	175	139	131	94	122	117
USA
Revenue	1,115	1,255	1,176	981	896	885	914	931	937
Operating income before amortization (EBITA) 1)	58	67	66	52	48	31	48	47	66
Other 2)
Revenue	–	–	–	–	–	–	–	–	–
Operating income before amortization (EBITA) 1)	–30	–29	–26	–22	–24	–22	–184	–122	–51
Group, total
Revenue	3,018	3,187	3,107	2,836	2,669	2,647	2,850	2,956	2,789
Operating income before amortization (EBITA) 1)	183	185	239	205	163	141	–42	47	133

1) Earnings Before Interest, Taxes and Amortization of acquisition-related intangible fixed assets. The item also excludes acquisition-related restructuring costs and other items affecting comparability.

2) The category Other consists of the Parent Company's costs and certain other Group items. In 2007, income was charged with LCM-related expenses.

Quarterly data (MSEK)	Apr– Jun	Jan– Mar	Oct– Dec	Jul– Sept	Apr– Jun	Jan– Mar	Oct– Dec	Jul– Sept	Apr– Jun
	2009	2009	2008	2008	2008	2008	2007	2007	2007
Statement of Income
Revenue	3,018	3,187	3,107	2,836	2,669	2,647	2,850	2,956	2,789
Gross income	643	681	673	647	579	560	590	622	614
Operating income before amortization (EBITA)1)	183	185	239	205	163	141	–42	47	133
Operating margin before amortization, %	6.1	5.8	7.7	7.2	6.1	5.3	–1.5	1.6	4.8
Operating income after amortization, before items affecting comparability and acquisition-related restruc turing costs	179	181	235	202	159	136	–50	43	129
Cash flow
Current operations	306	184	428	517	–102	–203	280	–619	145
Investing activities	–218	–168	–292	–205	–263	–119	–76	–445	–130
Financing activities	–257	–190	301	–329	374	295	–101	1 082	8
Cash flow for the period	–169	–174	436	–17	9	–27	103	18	22
Capital employed and financing
Operating capital employed	2,358	2,480	2,353	2,091	2,037	2,069	1,796	2,417	2,515
Operating capital employed as % of revenue	19	21	21	19	18	18	16	21	22
Goodwill	2,959	3,100	2,965	2,666	2,416	2,392	2,533	2,580	2,512
Acquisition-related intangible assets	77	76	79	74	67	70	75	20	12
Other capital employed	45	–49	–45	76	170	–308	–549	–292	–1 389
Capital employed	5,439	5,607	5,351	4,907	4,690	4,222	3,855	4,725	3,650
Capital employed as % of revenue	45	48	48	45	42	38	34	41	32
Net debt	2,447	2,448	2,375	2,399	3,333	2,942	2,350	2,659	1,400
Shareholders' equity	2,992	3,159	2,976	2,508	1,357	1,280	1,505	2,066	2,250

1) Earnings Before Interest, Taxes and Amortization of acquisition-related intangible fixed assets. The item also excludes acquisition-related restructuring costs and other items affecting comparability.

Statement of Income – By quarter (MSEK)	Apr– Jun 2009	Jan– Mar 2009	Oct– Dec 2008	Jul– Sept 2008	Apr– Jun 2008	Jan– Mar 2008	Oct– Dec 2007	Jul– Sept 2007	Apr– Jun 2007
Revenue, continuing operations	2,994	3,160	3,081	2,796	2,521	2,500	2,699	2,818	2,787
Revenue, acquisitions	23	28	26	40	148	147	150	138	2
Total revenue	3,018	3,187	3,107	2,836	2,669	2,647	2,850	2,956	2,789
Organic growth, %	–4	–1	2	4	4	2	1	–0	–0
Production expenses	–2,375	–2,507	–2,434	–2,189	–2,090	–2,086	–2,260	–2,334	–2,176
Gross income	643	681	673	647	579	560	590	622	614
Selling and administrative expenses	–460	–495	–433	–441	–416	–420	–632	–575	–481
Operating income before amortization (EBITA)1)	183	185	239	205	163	141	–42	47	133
Operating margin before amortization, %	6.1	5.8	7.7	7.2	6.1	5.3	–1.5	1.6	4.8
Amortization of acquisition related intangible assets	–4	–4	–4	–3	–3	–4	–8	–4	–3
Acquisition-related restructuring costs	–	–	–	–	–	–	–21	–16	–
Items affecting comparability	–	–	–	–	–	–	–391	–4	–219
Operating income (EBIT)	179	181	235	202	159	136	–462	23	–90
Net financial items	–31	–31	–43	–45	–40	–36	–40	–38	–24
Income before taxes	148	150	192	157	119	101	–502	–15	–114
Income tax	–44	–45	–78	–73	38	–33	24	–33	–283
Net income for the period 2)	103	105	115	84	157	68	–478	–48	–397
Net margin, %	3.4	3.3	3.7	3.0	5.9	2.6	–16.8	–1.6	–14.2
Earnings per share before
dilution	1.42	1.44	1.57	1.15	2.15	0.93	–6.54	–0.66	–5.44

1) Earnings Before Interest, Taxes and Amortization of acquisition-related intangible fixed assets. The item also excludes acquisition-related restructuring costs and other items affecting comparability.

2) Income for the period is entirely attributable to the Parent Company's shareholders.

Balance sheet – By quarter (MSEK)	Jun 30, 2009	Mar 31, 2009	Dec 31, 2008	Sept 30, 2008	Jun 30, 2008	Mar 31, 2008	Dec 31, 2007	Sept 30, 2007	Jun 30, 2007
ASSETS
Fixed assets
Goodwill	2,959	3,100	2,965	2,666	2,416	2,392	2,533	2,580	2,512
Acquisition-related intangible assets	77	76	79	74	67	70	75	20	12
Other intangible assets	47	46	49	45	44	41	40	29	17
Tangible fixed assets	2,995	3,026	2,967	2,674	2,501	2,388	2,519	2,404	2,674
Non-interest-bearing financial fixed assets	371	340	319	322	339	266	261	228	252
Interest-bearing financial fixed assets	83	51	60	60	152	150	152	4	4
Total fixed assets	6,532	6,638	6,439	5,840	5,518	5,307	5,580	5,266	5,469
Current assets
Non-interest-bearing current assets	2,030	2,139	1,851	2,030	2,007	1,988	1,879	1,904	1,926
Interest-bearing financial current assets	11	112	355	1 068	–	369	698	818	1 193
Liquid funds 1)	305	352	268	174	177	166	203	104	91
Total current assets	2,346	2,603	2,474	3,271	2,183	2,522	2,780	2,826	3,210
Assets attributable to disposal group 2)	–	–	–	–	–	–	–	460	–
TOTAL ASSETS	8,878	9,241	8,913	9,112	7,701	7,830	8,360	8,552	8,680
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity 3)	2,992	3,159	2,976	2,508	1,357	1,280	1,505	2,066	2,250
Equity ratio, %	34	34	33	28	18	16	18	25	26
Long-term liabilities
Non-interest-bearing long-term liabilities	–	–	–	–	–	–	–	1	1
Interest-bearing long-term liabilities	1,563	64	72	69	79	91	113	97	90
Non-interest-bearing provisions	864	864	808	852	770	671	726	917	1,627
Total long-term liabilities	2,427	929	880	921	849	761	839	1,015	1,718
Current liabilities	–
Tax liabilities	162	235	209	170	134	99	129	108	80
Non-interest-bearing current liabilities	2,014	2,020	1,860	1,882	1,779	2,153	2,596	1,825	2,034
Interest-bearing current liabilities	1,283	2,899	2,987	3,632	3,583	3,537	3,291	3,488	2,598
Total current liabilities	3,459	5,154	5,057	5,683	5,496	5,789	6,016	5,421	4,712
Liabilities attributable to disposal group 2)	–	–	–	–	–	–	–	51	–
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES	8,878	9,241	8,913	9,112	7,701	7,830	8,360	8,552	8,680

1) Liquid funds include cash pools as of December 2008. Cash pools previously formed a portion of internal financing from Securitas and were, therefore, netted against other internal financing.

2) Refers to assets and liabilities as at September 30, 2007, attributable to Loomis Cash Management Ltd., which was divested on November 24, 2007.

3) Shareholders' equity is entirely attributable to the Parent Company's shareholders.

Cash flows – By quarter (MSEK)	Apr– Jun	Jan– Mar	Oct– Dec	Jul– Sept	Apr– Jun	Jan– Mar	Oct– Dec	Jul– Sept	Apr– Jun
Additional information Operating income before	2009	2009	2008	2008	2008	2008	2007	2007	2007
amortization (EBITA)1)	183	185	239	205	163	141	–42	47	133
Depreciation	196	198	187	169	162	157	171	171	162
Change in accounts receivable	–0	15	172	17	–33	–77	111	–141	–71
Change in other operating capital employed	24	–135	–84	175	64	–385	302	46	70
Cash flow from operating activities before investments	402	263	514	566	355	–164	542	122	293
Investments in fixed assets, net	–209	–168	–292	–196	–222	–119	–333	–164	–130
Cash flow from operating activities	193	95	222	370	133	–283	210	–42	163
Cash flow from operating activities as % of operating income before amortization (EBITA)	106	51	93	180	82	n/a	n/a	n/a	123
Financial items received/ paid	–15	–38	–45	–45	–42	–36	–37	–38	–24
Income tax paid	–81	–39	–16	12	–6	4	–35	–38	–92
Free cash flow	98	18	161	337	85	–315	138	–118	47
Cash flow effect of items affecting comparability and acquisition-related restructuring costs	–1	–2	–25	–15	–410	–7	–191	–665	–32
Sale of fixed assets (LCM)	–	–	–	–	–	–	257	–	–
Divestiture of operations	–	–	–	1	–	–	–	–	–
Acquisition of operations	–9	–	–	–11	–41	–	–	–281	–
Dividend paid	–164	–	–	–	–	–245	–	–250	–
Group contributions paid	–	–	–	–	–	–182	–	–	–
Group contributions received	–	–	500	400	–	–	–	–	–
Repayments of leasing liabilities	–12	–8	–1	–8	–12	–22	–27	–	–
Change in interest-bearing net debt excluding liquid funds	–80	–183	–199	–720	386	743	–73	1 331	8
Cash flow for the period	–169	–174	436	–17	9	–27	103	18	22

1) Earnings Before Interest, Taxes and Amortization of acquisition-related intangible fixed assets. The item also excludes acquisition-related restructuring costs and other items affecting comparability.

Key ratios	Apr–Jun 2009	Apr–Jun 2008	Jan–Jun 2009	Jan–Jun 2008	Full year 2008	Full year 2007
Operating margin before amortization, %	6.1	6.1	5.9	5.7	6.6	2.3
Cash flow from operating activities as % of operating income before amortization (EBITA)	106	82	78	n/a	59	120
Return on capital employed, %	15	7	15	7	14	7
Organic growth, %	–4	4	–2	3	3	1
Total growth, %	13	–4	17	–5	–1	–1
Earnings per share	1.42	2.15	2.85	3.08	5.80	–12.06
Equity ratio, %	34	18	34	18	33	18
Net debt	2,447	3,333	2,447	3,333	2,375	2,350

Definitions

CASH FLOW FROM OPERATING ACTIVITIES AS % OF OPERATING INCOME BEFORE AMORTIZATION (EBITA)

Cash flow for the period before financial items, income tax, items affecting comparability, acquisitions and divestitures of operations and financing activities, as a percentage of operating income before amortization (EBITA). Calculation for Apr–Jun 2009: 193 / 183 = 106%

RETURN ON CAPITAL EMPLOYED, %

Operating income before amortization (EBITA) (rolling 12 months) as a percentage of the closing balance of capital employed.

Calculation for Apr–Jun 2009: 813 / 5,439 = 15%

ORGANIC GROWTH, %

Increase in revenue for the period, adjusted for acquisitions/divestitures and changes in exchange rates, as a percentage of the previous year's revenue adjusted for divestitures.

Calculation for Apr–Jun 2009: (3,018 –2,669 –23 –424) / 2,669 = –4%

TOTAL GROWTH, %

Increase in revenue for the period as a percentage of the previous year's revenue.

Calculation for Apr–Jun 2009: 3,018 / 2,669 –1 = 13%

EARNINGS PER SHARE

Net income for the period in relation to the number of shares outstanding at the end of the period. Calculation for Apr–Jun 2009: 103 / 73,011,780 x 1,000,000 = 1.42

OPERATING INCOME BEFORE AMORTIZATION (EBITA)

Earnings before interest, taxes and amortization of acquisition-related intangible fixed assets, acquisition-related restructuring costs and other items affecting comparability.

OPERATING MARGIN BEFORE AMORTIZATION

Earnings before interest, taxes and amortization on acquisition-related intangible fixed assets, acquisition-related restructuring costs and other items affecting comparability, as a percentage of revenue.

OPERATING INCOME AFTER AMORTIZATION (EBIT) Earnings before interest and taxes.

RETURN ON EQUITY

Net income for the period (rolling 12 months) as a percentage of the closing balance of shareholders' equity. Calculation for Apr–Jun 2009: 407 / 2,992 = 14%

NET MARGIN

Net income for the period after taxes as a percentage of total revenue. Calculation for Apr–Jun 2009: 103 / 3,018 = 3.4%

OTHER

Amounts in tables and other compilations have been rounded off on an individual basis. Minor differences due to this rounding-off may, therefore, appear in the totals.

Information meeting

An information meeting will be held on July 31, 2009 (9:30 a.m. CET). This meeting will be held at Hallvarsson & Halvarsson, Sveavägen 20, Stockholm.

To listen to the meeting proceedings by telephone (and to participate in the question and answer session), please register in advance by using the following link: https://eventreg2.conferencing.com/webportal3/reg.html?Acc=888078&Conf=199429 and follow the instructions or call +46 (0)8 505 201 14 or +44 (0)20 716 201 77.

The meeting can also be viewed on the Internet at: www.loomis.com

A recording of the webcast will be available at the Loomis website after the information meeting, and a telephone recording of the meeting will be available until midnight (12:00 a.m.) on August 14 at: +46 (0)8 505 203 33 and +44 (0)20 7031 4064, code: 842335

Future reporting and meetings

January–September October 29, 2009 January–December February 9, 2010 Loomis AB discloses information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. This information was submitted for publication on Friday, July 31, 2009 at 8:00 a.m. CET.

For further information

LARS BLECKO, PRESIDENT AND CEO +46 (0)70 641 49 10, e-mail: lars.blecko@loomis.com

Questions can also be sent to: ir@loomis.com. Refer also to the Loomis website: www.loomis.com

Loomis AB (publ.) Corporate Identity Number 556620-8095, Box 902, SE-170 09 Solna Telephone: +46 8-522 920 00, Fax: +46 8-522 920 10 www.loomis.com